Increasing demand for the safety features in the automotive to propel further growth in the Global Automotive Semiconductor Market
The size of the global market for Automotive Semiconductor is expected to reach USD 103.85 Billion by 2029, expanding at a compound annual growth rate (CAGR) of 8.4%.
Covid-19 Impact & Market Status
the automotive area is going through different difficulties, for example, marked down buying power because of COVID-19, charging framework upgrades, and purchaser assumptions for additional innovation enhancements to bring down vehicle costs and give better reach. In addition, as per Korea Automotive Technology Institute, or Katech, the worldwide deficiency of automotive semiconductors that began around the finish of 2020 may keep on influencing the worldwide vehicle industry for the primary portion of 2022. Indeed, even after 2023, a few organizations might in any case feel its belongings.
Passenger Cars to Emerge as the Most Lucrative Segment
passenger vehicles are supposed to hold the biggest portion of the overall industry during the estimate time frame. This development can be credited to the gigantic interest for traveler vehicles across the globe, particularly in Asia-Oceania. The rising working-class populace and further developed discretionary cashflow have sped up the interest for traveler vehicles in nations like China, India, Thailand, Indonesia, and Malaysia among others. The most extreme development can be seen in the LCV portion which is assessed to develop at the most elevated CAGR. This development is predominantly a direct result of the rising interest from created economies like North America and Europe.
Telematics Applications to Ensure Revenue Maximization
The three quickest developing applications and the significant purchaser of the semiconductor content in a vehicle are telematics and infotainment, powertrain, and security. The strict principles and guidelines are the creating more interest for semiconductor part in the security and powertrain applications. Then again, the developing rivalry among the vehicle producers to give better accommodation and solace to their clients is compelling the automotive makers to involve increasingly more semiconductor parts for wellbeing and telematics and infotainment applications.
Backed by Immense Development Potential Asia-Oceania Automotive Semiconductor Market to Sail Ahead
Asia-Oceania district represented the biggest portion of market during the forecast period. The district has arisen as a significant automotive mobiles center point with larger part of the piece of the pie concerning vehicle creation as well as deals. The essential purpose for this pattern is the developing Chinese automotive market. This market has advanced into the biggest maker of vehicles and thus the biggest customer of automotive semiconductor across the globe. Devalued oil costs, severe unofficial laws, quick mechanical progression, and utilization of principally premium vehicles are the variables making North America as the quickest developing locale of the automotive semiconductor market during the estimate time frame.
The focus on the innovative automotive technologies for advanced user interface has paved new growth opportunities.
The automotive semiconductor market was valued at USD 40 billion in 2020 and is expected to reach at USD 120 billion by 2022, at a growing CAGR of 12% during the forecast period, 2022-2027. Semiconductors are extraordinary kind of electronic parts that have the property to move power through them under specific circumstances. Semiconductors are utilized in vehicles to guarantee that the related part works productively in all circumstances. Semiconductors utilized in vehicles are made of silicon and germanium as the fundamental parts that are fundamental for better working of automotive hardware. Semiconductors introduced in vehicles helps in controlling various tasks, for example, controlling the climate control system arrangement of the vehicle as well as guaranteeing the security of the vehicle. Additionally, the progression in vehicle-based innovation like presentation of cutting-edge driver help framework (ADAS), telematics and infotainment followed by the expanded tendency toward reception of electric vehicles supplements the development of the automotive’s semiconductor market across the globe.
The market development can be straightforwardly connected with the development of the automotive business. The main component driving the market is the rising vehicle creation, which thus, is prompting the ascent sought after for automotive semiconductors. Rising pattern of vehicle charge and developing interest for cutting edge security, accommodation, and solace frameworks are different elements driving the development of semiconductor content in the automotive.
Factors like increasing expense of by and large vehicle, keeping up with balance among cost and nature of the item, and consistent streamlining of part size are ceaselessly making difficulties for the automotive semiconductor market. Because of consistent downfall of the oil costs, the interest of gas and diesel vehicles is supposed to support sooner rather than later. Though, the development of the option powertrain vehicles can be hampered because of this pattern. On the other hand, in the event that the effect of the slant of the two patterns is thought of, invalidation can be considered somewhat and this give the automotive semiconductor industry a firm development all through the gauge period.
The major players of the global Automotive Semiconductor market are NXP Semiconductors N.V (The Netherlands), Renesas Electronics Corp. (Japan), Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), Robert Bosch GmbH (Germany), Texas Instruments, Inc. (U.S.), ON Semiconductor Corp. (U.S.), ROHM Co., Ltd. (Japan), Toshiba Corp. (Japan), and Analog Devices Inc. (U.S.) among others.
Automotive Semiconductor Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 120 billion|
|Growth Rate||CAGR of 12% during 2021-2028|
|Segment Covered||Vehicle Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||NXP Semiconductors N.V (The Netherlands), Renesas Electronics Corp. (Japan), Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), Robert Bosch GmbH (Germany), Texas Instruments & among others.|
Key Segments of the Global Automotive Semiconductor Market
Vehicle Type Overview, 2018-2028 (USD million)
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
Application Overview, 2018-2028 (USD million)
- Body Electronics
- Telematics and infotainment
Regional Overview, 2018-2028 (USD million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa